News and Events
Full-time MBA Student Tim Kim Wins 2010 Pepperdine University Business Plan Competition
The Graziadio School of Business and Management (GSBM) and the School of Law Geoffrey H. Palmer Center for Entrepreneurship & the Law at Pepperdine University held their annual Business Plan Competition on Saturday, Mar. 27. Full-time Pepperdine MBA student Tim Kim won the top prize of $15,000 with the business plan for his start-up Flynn Acquisitions, Inc., which addresses recurring problems faced by users of the common socket wrench.
Kim’s business plan demonstrated high-market potential with a proven hand tool design solution that effectively replaces up to 19 different socket sizes currently on the market, works on rusty and worn-out bolts, and handles with a vice-like grip that is durable enough to attach to an industrial drill. Professionals and do-it-yourself consumers must determine the size of a nut or bolt by trying out different size sockets to find the matching fit. When faced with a rusted and worn-out bolt, traditional sockets slip off the rounded corners, forcing users to carefully “drill out” the bolt.
“Both scenarios illustrate the time-wasting hassles associated with using traditional sockets,” says Kim, who graduates in April. “Flynn Acquisitions’ TrustyMax adjustable sockets accommodate a vast array of sizes and will not slip off old or damaged bolts. Its durable and simple design removes the guess work and saves money.”
Neil Clark Warren, founder of eHarmony; Arif Shakeel, former CEO of Western Digital; Susanna Kass, former COO of eBay; John Hohu, director of operations at Cisco; and Brad Fornaciari, founder of the marketing firm Lighthouse Branding served as judges for the annual entrepreneurship event.
The judges awarded the $5,000 second-place prize to Pepperdine MBA students JC Garrett, Rimas Silkaitis and Sebastian Bartl for the business plan BeTheBuilders.com, an Internet-based community offering homeowners the resources to plan, track and implement environmentally conscious home renovations. Blogs, discussion forums, online catalogues, micro-documentaries and how-to webisodes provide step-by-step guidance from industry experts, tools and information all in one place to help consumers infuse green living solutions into home improvement projects.
The judges also awarded two runner-up prizes, to the tune of $2,500 each, to full-time MBA student Robert Buhler for his e-book rental website plan BookGlow.com, which provides a solution to the high cost of e-readers and single purchasing price of e-books themselves, and Augustha, the business plan presented by business students Shivani Chandar, Ayush Jain and Kurt Onalp. Augustha addressed the worldwide crisis of access to clean drinking water through a portable water purification solution. The company’s product Agua Rush, currently under development, seeks to introduce a patented proprietary technology that neutralizes toxins in water, making it save for human consumption, and provide great taste and healthy electrolytes.
For more information about the Pepperdine University Business Plan Competition and winners, visit the GSBM Web site.